“Wagga Tank: Peel Mining Discovers High-Quality Supergene Copper and Gold”

Drilling outcomes validate premium mineralisation

Peel Mining has disclosed encouraging assay outcomes from its latest drilling initiative at the Wagga Tank tenement located in central New South Wales. The company executed 15 vertical reverse circulation drill holes, accumulating a total of 2,248 metres. These outcomes have validated the existence of premium supergene copper and oxide gold mineralisation.

Importantly, the assays showed robust copper grades, with certain intervals demonstrating notable concentrations of gold. This mineralisation is linked with volcanogenic massive sulphide (VMS) deposits, a deposit type recognized for its potential to contain large-scale, high-quality resources.

The drilling initiative aimed specifically at supergene zones, which are enriched through secondary processes, typically resulting in higher metal concentrations near the surface. This serves as a favorable indicator for the project’s potential economic viability, as supergene mineralisation can generally be more easily extracted and processed compared to deeper, primary ore bodies.

“These findings represent a significant advancement for Peel Mining, as they affirm the existence of high-grade mineralisation beyond the previously established resource envelope,” the company remarked.

Enhancement of mineral resource potential at Wagga Tank

The recent drilling findings have not only validated the presence of high-quality mineralisation but also imply the potential for a substantial enlargement of the existing mineral resource at Wagga Tank. The assays suggest that mineralisation extends past the limits of the current resource model, paving the way for additional resource growth.

Peel Mining’s exploration endeavors have concentrated on discovering further zones of supergene copper and oxide gold mineralisation, which could boost the overall scale and value of the project. The identification of these mineralised zones beyond the known resource boundary is a strong sign that the Wagga Tank tenement may contain a more extensive mineral system than previously thought.

Considering the closeness of these newfound mineralised zones to the surface, the likelihood of cost-effective extraction is increased. Supergene mineralisation, in particular, is typically more suited to open-pit mining techniques, which could reduce the overall capital and operational expenses involved in project development.

Peel Mining’s leadership has noted that additional drilling will be necessary to fully characterize the extent of the mineralisation and to revise the resource model accordingly. The company plans to maintain its proactive exploration approach, with further drilling initiatives scheduled to examine the lateral and depth extensions of the mineralised zones.

“The opportunity to broaden the resource at Wagga Tank is very promising, and we are optimistic that continued exploration will yield favorable results,” Peel Mining commented.